Reference no: EM132372216

Project Cost & Schedule Control Assignment -

QUESTION 1 - Greg is managing a new product development project which is estimate to take 125 hours.

The Plan: The project consists of five different activities. Each activity is expected to take twenty-five hrs. Further, every activity has five sub-activities that each take 5 hours. Max hires five resources. They will each work on the project parallelly and will be paid $100/ hr. The total estimated project is $12,500. Based on the distribution of work, it is determined that the project can be completed within a week.

Progress Measurement: Initial Reports

• At the end of the week, the resources are asked to submit their recorded timesheets. Total hours reported by all team members is 100hrs.
• Based on this information, Max quickly assumes the project is 80% complete. Max then decides that the project will be delayed. Max sends a status report claiming that the project is within budget but not on time.

a) Based on the description so far, would you agree with Max's assessment of the project? Justify your answer in detail with reasons.

Max now calls each programmer and gathers the following information:

Programmer	Budgeted Time	Actual Time Spent	Invoices Submitted	Percentage of all tasks completed
Nick	25 hours	15 hours	$1500	50%
Oliver	25 hours	25 hours	$2500	65%
Pat	25 hours	10 hours	$300	10%
Quin	25 hours	35 hours	$3500	50%
Ruth	25 hours	15 hours	$1500	80%
Total time and costs incurred		100 hours

Using the data given, calculate the following:

b) Calculate Schedule Variance,

c) Schedule Performance Index

d) Cost Variance,

e) Cost Performance Index

f) Discuss the meaning of each of these indicators and so, the health of the project.

QUESTION 2 - Gary Foods LLC, a 15-year-old fast food company has a production factory. They require meat and produce including fruits and vegetables as raw materials. Procurement is done through local suppliers at each location. Transportation is done by a third-party service provider, who does not value the preservation of perishables. Almost, 35% of the materials are lost due to improper storage, temperature control, etc. There is also a growing concern regarding their delayed deliveries.

Though the customers love the product, the company struggles with timely delivery and improper packing, which does not preserve products for long, with shelf life of only about 6 hrs., if not kept under temperature -controlled conditions. Though the company has over 15 distributors there is no coordination or centralization. The information systems are primitive, and are steadily losing customers to growing competitors. You are appointed as a logistics consultant. Prepare a brief report of min. 1,500 words, putting forward your suggestions with regards to improving the logistics management system.

QUESTION 3 - With reference to the quality system model, the people are at the bottom of the model. Why do you think this is so? Do you agree or disagree with the same? Discuss your answer in min. 500 words.

QUESTION 4 - Refer to the Quality Assurance - Internal Validation - Self Assessment Tool, Section 4, in attached file.

Based on your organization and your job role, fill up the tool. For each point from 4 a to 4f, briefly justify your answer. Eg. 4a, if you mark strongly agree or agree - give some examples of what metrics /KPIs you use to measure your work. If neutral and below, suggest what you could possible use.

Attachment:- Project Cost & Schedule Control Assignment File.rar